| |DECEMBER 20248SPI INITIATIVE POWERS PHARMA CLUSTERS & MSMES WITH? 500 CR SUPPORTINDIA LEADS AS LARGEST SUPPLIER OF GENERIC MEDICINES WITH 20 PERCENT SHAREStrengthening of Pharmaceutical Industry (SPI)' initiative, backed by Rs 500 crore (USD 60.9 million) provides vital support to enhance productivity, quality and sustainability across pharma clusters and MSMEs nationwide.Highlighting the significance of this year's CPHI and PMEC India Expo, Yogesh Mudras, Managing Director, Informa Markets in India, said, "India's pharmaceutical industry, currently ranked third globally by production volume, has evolved into a thriving sector with a CAGR of 9.43 per cent over the past nine years. Known for delivering high-quality, affordable medicines, India has earned its reputation as the 'Pharmacy of the World'.""Over the last 16 years, CPHI and PMEC India Expo has mirrored the industry's vision and growth. Now, as a key part of the world's largest global pharmaceutical community, it has transformed from a trade show into a robust platform for expanding business opportunities and delivering real-time industry insights, positioning us at the forefront of global pharmaceutical advancements," he added.The 17th edition of the CPHI and PMEC expo showcasing the pharmaceutical industry's modernisation, innovation and sustainability will be held from November 26 to 28 in Greater Noida. The expo will showcase over 10,000 products, offering a unique space for collaboration and innovation in the pharma industry, said a release from the organiser Informa Markets in India.The expo will this year offer a pivotal marketplace for over 2,000 exhibitors to engage with anticipated participation from countries, including the US, UAE, South Korea, Japan, Egypt, Vietnam, the Philippines, Malaysia, Italy, Sri Lanka, Bangladesh, Nepal, Iran, and the United Kingdom. POIndia holds the biggest share in global generic medicine supply with 20 percent, producing 60,000 generic brands in 60 therapeutic categories. Products made in the country are sent to more than 200 countries worldwide, with Japan, Australia, Western Europe, and the United States being the primary places they are shipped to.Dr Reddy's Laboratories and FDC Ltd are withdrawing generic drugs from the US market because of production problems, as reported by the US health watchdog. According to the most recent Enforcement Report from the Food and Drug Administration (USFDA), the US branch of Dr Reddy's Laboratories is recalling several different dosages of Morphine Sulfate extended-release tablets in the United States.The drug is prescribed for the alleviation of intense and lasting pain. According to the USFDA, Dr Reddy's Laboratories Inc in Princeton is withdrawing 2,040 bottles of 15 mg Morphine Sulfate extended-release tablets because of "Failed Impurities/Degradation Specification".The drug manufacturer is recalling 532 more 100-count bottles of the 30 mg strength medication for the same reason, according to the USFDA. Dr Reddy's started the nationwide Class II recall on October 22 of this year.USFDA announced that FDC Ltd, based in Mumbai, is withdrawing 1,55,232 bottles of Timolol Maleate ophthalmic solution from the US market.The company is issuing a recall for the impacted batch because of a "Faulty Container: Inability to dispense the solution from the bottle as the cap's spike is stuck in the product bottle's nozzle," according to the US health regulator. POTOP STORIES
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